China opens another copper mine in Zambia

Section:

From Xinhua News Agency
via China Daily, Beijing
Sunday, October 28, 2007

http://www.chinadaily.com.cn/bizchina/2007-10/28/content_6211525.htm

China opened another copper mine in Zambia, Non-Ferrous China Africa (NFCA) of China Non-Ferrous Metals Mining Corporation (CNMC) announced in Kitwe, Zambia, on Saturday.

Zambian Vice President Rupiah Banda, on behalf of President Levy Mwanawasa, officiated the opening ceremony of Chambishi West Orebody Project, within the mine that was taken over by the CNMC in 1998.

In the address read on his behalf by Banda, Mwanawasa said the Chambishi copper mine is among the first mining units to have been privatized in his country.

"The significance of this is that it is a reflection of the tremendous support and brotherhood between China and Zambia. The Chinese people quickly moved into action to support our privatization program by participating in the bidding process," he said. "The two countries have enjoyed longstanding friendship."

Chinese Ambassador Li Qiangmin, chief executive officer of Zambia-China Economic and Trade Cooperation Zone Tao Xinghu and CEO of NFCA Luo Xingeng also addressed the ceremony, speaking highly of the win-win economic relations between China and Zambia.

Total reserves of the West Orebody are estimated at about 34 million tons with a copper grade of 2.03 percent. The expected copper ore annual output is one million tons. The sevice life of the mining project is estimated at 25 years.

Total investment for the project is US$100 million and its construction is expected to be completed in three years. It will provide 1,500 more jobs for the local people.

The production in Chambishi main orebody was reopened in July 2003 after closing for as long as 13 years. The mining in the main orebody now can produce 24,000 tons of copper annually and employs 2,000 local people.

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